Reconcile with on-line balance without pending transactions
I had this problem before and almost left quicken. They fixed it and now its back!
When I reconcile with the on line balance the pending transactions are included. Meaning I have to stop using my account until all transaction clear in order to properly reconcile my accounts. I don't understand why this keeps being an issue. I have been using Quicken for over 20 years and if I have to go back to manually reconcile with a paper statement why do I pay for this software.
Has anyone found a solution to ignore the pending transactions?
Answers
-
I have the same problem reconciling with my Bank of America checking account.
1 -
Same problem with Chase. Started about a month ago.
1 -
Same here with Prime South Bank
0 -
It is for this very reason that reconciling to an online balance is sketchy at best. Better to do it to a statement balance.
2 -
but to balance to a statement balance don't you do that manually? Why not go back to an excel sheet or a written check register. If Im doing this manually I don't need the software.
1 -
> @Mark 23 said:
> I have the same problem reconciling with my Bank of America checking account.
Me too. I hope Quicken fixes this soon.0 -
@rlampman All you have to do is enter the statement date and ending balance for bank statements and for credit cards the statement date, purchases, payments and the ending balance and press OK. Quicken does the rest and if there is a $0.00 discrepancy then you are finished. The other plus is that if you are ever audited the reconciliation to a statement is the only way you can show that the reconciliation was done properly.
0 -
Further to the comments from @Snowman:
You don’t need an actual statement - paper or pdf. If you look online at your bank’s reported balance ($1234.56) today (6/3/23), you can start a manual reconcile using those as the date and balance. It accomplishes the same thing as reconciling to an ‘online’ balance. Just make sure that the bank balance you use from online also is not including pending transactions.
0 -
The problem comes that to prove in an audit what that online balance is can be problematic at best. What day and time of day was the "online" balance that was reconciled to. There is no way I am aware of proving lets say what the online balance was in a given bank account for a time 4 or 5 years ago. A paper statement or a pdf file of the statement is the only way to prove this.
0